LYV, Gap fill after M pattern
LYV is forming a M pattern on the weekly. A large gap needs to be filled between 11/6/2021 to 11/9/2021. I want to see how the security price interacts with the gap (filling the gap or treating it as support).
If the gap is filled, I will treat that as a buy zone, analyzing and preparing to sell at or above the "First Test" line.
I see a divergence in the RSI first forming in SEP 2017.
My bet is this is the forming of a Head and Shoulders pattern. If the gap fills and the RSI keeps its current trend for major highs, I feel the next rallies momentum would only carry it to just above the "First Test" line creating the next major lower high on the RSI.
If the gap is filled, I will treat that as a buy zone, analyzing and preparing to sell at or above the "First Test" line.
I see a divergence in the RSI first forming in SEP 2017.
My bet is this is the forming of a Head and Shoulders pattern. If the gap fills and the RSI keeps its current trend for major highs, I feel the next rallies momentum would only carry it to just above the "First Test" line creating the next major lower high on the RSI.
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